Planning a Car Purchase? Why Now Could Be a Good Time | Vantage with Palki Sharma
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- čas přidán 10. 07. 2024
- Planning a Car Purchase? Why Now Could Be a Good Time | Vantage with Palki Sharma
The global car market is facing tough times. Leading players like Volkswagen expect lower sales in 2024. The German carmaker is considering closing one of its plants in Brussels, as it faces increased competition from EV makers.
In India, carmakers are also trying to attract customers back. Reports indicate that around 600,000 to 650,000 cars remain unsold with Indian dealers. To boost sales, leading car manufacturers are now offering discounts and incentives. Some Indian state governments, like Uttar Pradesh, have announced a waiver on hybrid cars.
But will these measures be enough to boost car sales? Palki Sharma tells you more.
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Automobile | Car | Market | Sales | Firstpost | World News | News Live | Vantage | Palki Sharma | News
#automobile #cars #sales #firstpost #vantageonfirstpost #palkisharma #worldnews
Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.
The show is anchored by Palki Sharma, Managing Editor, Firstpost.
By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories - making Vantage a destination for thought-provoking ideas.
Vantage airs Monday to Friday at 9 PM IST on Firstpost across all leading platforms.
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A country is not rich when even poor have cars.
It is rich when rich use public transport.
Very well said.
You stop talking about poor or rich when over 85% of a general population can no longer afford rent, or sign up to make expensive payments over 7year period because the jobs are no longer sustainable.
Can you elaborate?
@@karttar341 Then the video of Cars being 10% cheaper is irrelevant to them 85% folks
Forget that part.
Ever heard "he things he is smart and making me a fool."
Then one 🚬 and one in 😵💫.
In Car taxes India comes in list high tax countries, getting 25 lacs car saving 50k is not buyers market, it is "Make fool of Customer" Market..
@@StopCensoringTheTruth no one owns anything to the govt in other countries if u pay tax in return govt gives u social security, like health care relaxation on other type of tax and school extra but in India and income tax payers get nothing in return all govt schemes are for poor people or people with sc,st,obc or ewc ,not for people who are contributing to the national
@@suvasishkajuri495 there is GST on insurance
@@user-vk7ll1dq9d ya
@user-vk7ll1dq9d not only GST on insurance, plus there is a bundled GST on the overall price. This translates into an additional payout of at least 25%+. Hail Sarkar, agli baar 😅
Let the Modi government buy those unsold stocks of cars for their Rally Convoys 😂😂😂
The fact that there is no shouting and background music makes this my fav channel ❤
Totally.. just love the quality of content.. precise, to the point... no non-sense...
With crazy gst in india ....no thanks....I'll travel in the metro.
Last 6 years car price increased around 20% plus now the interest is almost 10%. Buying a car is nightmare 😅
Agree. Prices are only going up.
@@aBrokenShard good. use public transport.
@@vinaybalehosur2699 that’s trash
@@vinaybalehosur2699 Thanks buddy for the brilliant advice. I'm sure you follow your own advice!
Even tax
who the hell spends 8 - 10 lakhs for a basic and on-road it drags to 11 - 13 lakhs. id rather travel by bike. hell with the gst and tax, insurance. im planning to get out of this crappy country for a better living. im at 30% slab tax but we dont even have roads.
Plus pay more tolls for Adani and Amabani to run their businesses.
Good luck getting a better new car in US/UK for the same price, always compare PPP(purchasing power parity) before thinking moving out of India would solve your problems...get some knowledge first
@@rkt81Adani and Ambani generate jobs and boosting the economy, it's easy to hate while expecting government to spoonfeed you as you're their son in law
And if you need to travel with your family? 😂
Please tell us as well how to leave this country
Palki Sharma why not talking about Jio price increasing?
Is it because Reliance/ Ambani has ownership in Firstpost?
Car prices seem to only be rising to me, esp since COVID prices have gone 20-30%. Where are all these discounts ?
Not getting any increment from employers + fear of layoff+ GST+ road tax+3 years comprehensive insurance + delaers mandatory accessories cost....😢
Ford Ranger ,10 years ago was $25,000, now it’s $65,000 worth of crap.
15 years ago it was 10k
Sorry Palki, have no discretionary money left after paying tax in India as a middle class to buy a CAR
close to 50% value of the car is tax plus fuel tax and then no roads to drive this and if there is any then toll booths,what a nonsense
Absolute truth
For the government, this makes quite sense. They charge us exorbitantly because they think owning a car is luxury and the roads are state of the art. I just hate the govt at this point.
Rgt ji
They first increased the prices to bridge the gap between thermal and electric cars, now that the markets say a big round NO, the put the reverse gear.
In Mumbai it takes atleast ₹10 lakh to buy a parking space in your building or society.
Owning a car is a nightmare...especially in cities with the over population, crazy traffic, cost of buying a car, interest, maintenance costs, fuel costs, no parking available in cities. 😓
dont buy .... you should understand that your complaints are not going to improve
Ola uber is the best option
@@sarathanilkumar1339 Exactly 👍🏻. Im happy with two wheeler 😄
even Uber Ola is not available at crucial / prime time and if available at too high price
This reason is enough to leave India and settle out of India
Middle class has already hit the wall...
Car prices, real estate are gonna stay the same/ drop.. cause most people cant afford the prices now anyways..
Inflatory bubble is collapsing..
100% true
Why to buy a car before my existing car completes 15 years, as I can't afford a car again and again. Most people in India can still afford a car only once in a lifetime. This is the main reason of stock piling up
Very well said. Almost all developed countries people change the vehicles after 3 to 4 years. Hence the car manufacturers are busy all year around in production.
@@nayan8647, 🤔! What happens to the used cars?
@@Satanreincarnation-zg6slthe are scrapped to reuse the engine parts and the metal is recycled.
@@shatakshipandey8014 , not all used cars are scrapped. It is mostly the ones that are totaled in an accident or can no longer be repaired. Most of the used cars are under 10 years of age are resold. Get educated before babbling.
and bad thing is they will not allow us to drive 15 years old car and will force us to scrap it. I own a polo 2011 and it is still brand new.
Tax 28+15=43% itni to salary bhi nahi badhati 😂😂😂
Thats how progressive taxation works , more tax on exp goods.
Cars are a luxury goods in India, so tax is higher.
@@divyamrathi299except for the filthy corrupt and filthy rich government employees( including politicians) , who have ultrawealthy assets worth millions
@@divyamrathi299 everything is luxury in India except dal chaval
@@ritswik Dude use your brains , we dont need cars to go from one to place to other.
Cars are luxury not only in india but also other developed countries like singapore,etc
@@divyamrathi299 do you like to get groped/sneezed at/smell the armpits of strangers in the overcrowded bus and train to get from one place to another , i don't. Do you like taxi driver calling you on your phone ? Aspiring a decent living standard is a crime in this country.
In 2003 a premium hatch back diesel was costing 5-6lacs .
Now if you want to buy a Tiago EV it is around 14lac.
So with this hike the buying potential is limited
6L in 2003 was very very expensive now 14L is a fair enough income
@@MOHAMMED-gi2uh all other expenses are also increased.
@@MOHAMMED-gi2uhdiesel and ev is diffrent thing in 2006 diesel prices are mere 40
Don't buy EV, normal Tata cars are 7-9 lakh starting price
@@MOHAMMED-gi2uh But you don't get a premium one at 14Lakhs.
Prices in India will never be reduced!
Resale value for Hybrids is very low and cost of repairs is high once the warranty period is over. Unless the govt. gives considerable incentive upfront to purchase them, why would anyone purchase them over diesel or cng cars? Pure Hybrids could be a game changer for the taxi segment as they ply mostly in crowded cities and savings on fuel will be considerable while reducing emissions at the same time while not having range anxiety of electrics.
Congratulations 'FirstPost' for 5 million subscribers.
Although CZcams channels are very much influenced by China and especially US. So if your channel starts influencing, they will bring you down artificially. Very sad reality.
There is a high correlation between China-bashing and the number of subscribers. Palki is on the right path. Carry on bashing China and get another 5 million subscribers.
That’s the reason you will see an army of Crynese bots on this channel even though there are at least 50 other anti-Cryna channels run by Americans, I never see these bots on American channels. CZcams is highly pro-Cryna. If you write anything negative about them, they delete the comment. But the Crynese bots are allowed to write racist and degrading comments about India. But the positive thing is that the bots help to boost the algorithm by spamming relentlessly 😂 I would be surprised if my comment doesn’t get deleted.
Wtf is wrong with Car companies?
The waiting period is 2 to 6 months after booking...and they are holding thousands of them unsold?
What's with the fake waiting period then?
It's just a gimmick or scam to say no discount....
Just to show there is a shortage and create urgency to book at high prices. Remember the chip shortage drama.
whatever it may be, cars , houses, it is getting difficult to buy , on paper govt may state big numbers but on ground middle class is getting crushed and slowly moving towards lower class
reality..govt is busy manipulating data
And there are lots of used certified cars in the market with lower affordable prices.
@@boyasia5874 but interest on second hand is higher
Plus 10 n 15 year validity
Cars become toys for those who have more currency. I was astonished when some says they have 20 or 30 cars for their families. Simplicity is lost . Unnecessary show is growing
In Canada still there is waiting time on Toyota cars, car prices are higher tan last two years and interest rate is 2-3 times.
Use public transport, and car is waste of money .
Well said
Car prices *WON'T* be crashing as some people think. They'll rather be going thru a *CORRECTION* .. this is cuz car prices where *overinflated* in the first place.
They are greedy. HYUNDAI RIPS YOU OFF on maintenance. At rates that are PURE EXTORTION
Absolutely, Hyundai is overpriced and not even worth the money. They cash on the design and looks mostly and their sales team does a good job in showing you stars.
I want to buy a second hand Tata nano
Up govt also waved off the tax on hybrid cars
Great channel!
Only quality news and no drama 🤘
Over taxation by central govt. is just too bad.
The Car Loan Interest rates are at all time high from 9 to 10% depending on CIBIL scores affecting auto sales.
Thank you for timely update. I'll take back my booking amount from care dealer. Will book my car next month after union budget.
I have also booked a car. Will it be more cheaper next month? Please respond...
@@prabhjeetsinghmann8787 I can't say... but there is chances. If you have booked diesel car then you should wait.
Only if you are in UP @@prabhjeetsinghmann8787
So what
Traffic will be to wrost if all car 🚗 sold
Short n crisp to the point news.
Ok usually in our country for the last 10 years, when price goes down in international market, it will go up proportionally in India..... 😂. It is the cost of petrol and diesel and insurance that keeps people from buying cars. Also the moment people get on road, governments start giving challans. Do don't buy any of these stuff.
The main reason of low sale and high inventory is the old model and old technology
In india we are using mainly IC engine cars but the fuel cost, high toll rates and maintenance cost is increased and one major problem is the lack of parking space in our houses because it's already occupied with our old cars
Car sale will increase after the property market boom, when youngsters buy and shift in new property they will definitely buy a new car with new technology EV or HYBRID car of a good range and reasonably priced
Govt must decrease taxes then we will happy to buy
This is possible only in Sathya Yuga
It is the taxes that are killing any spends you may want to make, GST, road tax and high interest rates etc,
way too much inflation........so many expenses.... how can u expect a comman man to buy a car out of a meagre slary..
Govt should reduce the Tax on Cars, cheaper loans, Price cuts on the Car Price and reduce the service cost.
Government comes with bs6 ,it increases price,who pays customer..
Transport minister openly says no diesel and petrol cars , why should customers pay or own it ?
Electric vehicle have upfront high cost and country lacks basic charging infra ,who pay the price?
Government announcement of scrap policy and limited access to own a vehicle after certain time .
Delhi bans vehicles life after 10 years we as customer suffer..
What i see unnecessary purchase decision of cars
Once govt reduce tax, i will first pay of loans then , i will then try. So not now. Govt and companies pushed us in terrible debts. Even working day and night no salary increase neither tax reduction. Now after 27 years i am totally exhausted
In the USA the average price of a new car is or maybe has already reached $50,000. A ridiculous price for the vast majority of buyers. And prices are dropping but extremely slowly. Less than 10% on most. Five to seven years at $700 per month is a lot of money. And electric cars are just sitting on the lots. Nobody wants them.
Correct.
EV propaganda is busting. They want you to be subscriber to all facilities and own nothing.
Lower the tax first
28% tax in gst+6-10% for RTO+income tax
Almost 45% tax wtf
Tax is a huge part of buying decisions and that is the only factor which stops people from not buying car recently
The global slow down story in car sales is due to inflation and sluggish economies. However India's brakes on car sales, in my opinion, is solely due to government greed and poor policies. As an example, not long ago, vehicle life tax on the car, cess and GST were reasonable! Now they are through the roof! Except the luxury car brands, the middle segments car sales are static.
Whatever happened to mona's plan of buying 2 mercs with built in massagers etc.?
Our hard earned money,
...Looted by our own Govt...!
Still the prices are high more correction needed. Car companies made unjustifiable price hikes after covid.
It's not on the car companies, the government is to be blamed.
If car companies have to reduce prices: remember what happened to Ford and Fiat? 😢
@@bionicguna govt tax structure was same before Covid but after covid why such increments
I am driving a 10 years old car, which has run 100,000 Kms and don't plan on buying a new one. Though I have been spending 60-70k on yearly repairs in the last 2 yrs, I am good with it. The current Tax and Interest rates and the registration cost in the State I live in, is simply loot which I don't want to encourage.
Think it's a diesel one of Ford or volkswagen
@@rakeshkk3185 It's Honda
@@rakeshkk3185 It's Honda
@@Sanatansister5623 nice, I have a honda city 2010 vtec, nowadays the maintenance is on the higher side, use it less than my Alto and i20 but love❤ it more
ultimately customer getting better deal is welcome. all part of industry cycles which need to be absorbed .
Imagine how much more Indians would spend on high end cars if roads were well made.
Getting a new car is not like buying other stuff, is a commiment, like a house. The economy may show good numbers, gdp grow and rising stocks, but doesn't show the amount of currency people have in their pockets, not to mention the other side of people how work on parttime. I have a Toyota Corolla 92 in very good condition but i was on road to buy a new car but the interest on the loan was to much for my paycheck; the best decision i made because a lost my job, so now a have a free debt car vs the one that the bank could have repo.
are you talkign about Auto industry on global scale or in INDIA? what news is this?? is there discounts in INDIA???
While there is a utility for cars in times of emergencies, but the streets of MEtros is over run by cars. More cars will only cause more traffic jams.
Not in the USA..Prices are high!
Govt should reform taxes.. So people can think of buying cars... Please inform to the govt..
I think it's the opposite in the PH... at least from what I'm seeing.
S. Madam Palki but the dealers are rascals in India. They would not sell the cars for lower prices. Thanks
There are rascals everywhere.
The Indian automobile market faces significant challenges. Post-COVID, both the Government of India and car manufacturers have increasingly prioritized profit. Today, owning a car is no longer a luxury but a necessity for most middle-class families. Instead of investing in better infrastructure, the government maintains high taxes, making it difficult for consumers. This situation is unfortunate for Indian customers.
You could have included the details on price rise since last 4 years, even in a single year the price increased multiple times.
Car prices has also risen, now a decent mid size SUV costs around 20Lakhs, plus increased interest rate, petrol, services, n insurance.
I think it's crucial for the automobile industry to innovate, especially with the current issue of unsold inventory. With 70-80% of commutes being solo, manufacturers should consider developing more cost-effective solutions. These innovations can reduce costs for customers and help companies move inventory faster. It's time for smarter, more affordable transportation that benefits both manufacturers and consumers.
What you are saying is a perfect truth 100% but who cares? Majority of people want show off so big SUV's which are expensive to buy and run and maintain too. Most of our cities need small cars like Maruti 800, Hyundai Santro type which may be less expensive to own and run and occupy less space.
Usual Palki Sharma news..5% logic and 95% masala
Then y waiting period still in India?
Hip up Palki Sharma First Post! Continue Unbias Updates
Ppl should buy TAta Indian made cars we have 2 wheel 3 wheels 4 wheels 5 and half wheels cars. A two wheel can carry up to 17 passengers now guess how many a 5 1/2 wheels can carry? India #1 and only one and only. Proud to be an Indian and proud and proud to be an Indian proud proud
Jai hind
In which cities are these dealers who have this stockpile?
Lapata City 😂 It's a Gimmick to sell more car's 😊 one can pay 50k more who buys 8Lac+ car, Real offer is if Cash Discount is more than 1lac on 8L Car
If you reduce the tax for hybrid then car manufacturers will increase the cost and it will the same... 😂😂😂
It would be better if the reporter cover the GST rates in In India
There usa still close to 1-2 month waiting period for Toyota cars.
While GST is introduced we were told unified tax. Now GST+ cess etc for Cars, GST+ state tax + etc + etc for fuel. How is GST a superset of all taxes. Am I missing something 😢. 6 to 7% profit margin for the manufacturers and 28+ 15% for govt???? If this is the case how we get safe and road worthy vehicles. Initially air filter is charged 28% gst then how people will maintain vehicle properly these consumables are accountable for pollution. We introduce BS6 and keep taxes for consumables high.
6:40
In the name of the inventory cost they have increased the prices Avery 3 months and made the good vehicle inaccessible to people who want to buy a good vehicle. Due to the high price people purchased budget cars in hundai Kia Suzuki Toyota under Lakhs or 15 lakhs on road price.
Keep 2-4 models with a good price gap . Let people decide what they want to buy. 12 models with few features upgrade and little price gap this strategy did not work and in future also it will not work .
Phethatic vehicle models are under 8 lakhs.
An average middle class person can extend his budget max upto 10 lakhs.
Short it's call imposed inflation of price to satisfy greed.
Used car market is selling on higher price, no control on them, no one is bothered about it.
10 years old Maruti cars are being sold for a price at which the vehicle purchased 10 years before, the answer is ..... the market trend.
When is the Tatas are going to enter the global scene like BYD??! India is this global's true #1 superpower!!
They have JLR for international markets.
@@YunwashereJai hind
Kharid ke dekho Tata fir batana kitna product aur services ka global standard hai.
Dobara na kharidne ki kasam kha loge.
@@insvaibhav Tata is favoured over other cars only by the first time buyers. After buying a honda City, my second family small car was a second hand Brio. Even in future I can only think of toyota just for the peace of mind.
increase public transport, save world...
I would not recommend buying a new car for an average-income Indian. First, the interest rates are quite high and one has to pay a high amount to buy a new car. Secondly, the IDV declared by the insurance companies each following year makes the car selling a nightmare. Better to look out for decent used vehicles if it is too necessary to buy a car, or otherwise use public transport.
More over people are investing money left and right in equity markets nowadays...there will be a slowdown in auto and real estate imo
Ms. Sharma, doesn't that "global car market" exclude markets like India? Statistics show that the Indian market is booming with demand. Or if European demand goes down, then it has to be termed Global ?
India still is a small % age in global terms when it comes to cars. If USA+Europe(+China) face slowdown, it's pretty much global slowdown
Palki Sharma says she'll keep Firstpost Unfiltered / Unvarnished but does not cover Jio Prices going up
Why Palki Sharma not talking about Airtel, Jio, or Vodafone increasing prices? Is it because Jio is owned by Firstpost Reliance / Ambani?
Why being Bias? palki Sharma?
Parking problem in city and also in societies is too much... people are shifting to ola uber
Even then I don't want to get one and go into debt forever, going to go abroad where they allow us to WFH
Do we have wide roads for the cars which are getting out of factories ? For how many new cars on road are old cars phased out ? Is there safe driving awareness among the youngsters ? Are cars which are in hit and run really so innocently driven ? Do lives of pedestrians and 2 wheelers riders matter ? Or are they Expendables ? Are we sure the state authorities have the knowledge and capacity to punish the guilty ? Is buying a car worth 10 lakhs or above truly meaningful in cities and towns with traffic and no wide roads ? Who is anyone trying to show off ? Buying with EMI money to show off to persons whom he does not know at all on the road? Yes, during that rare solo trip and uncommon times like 5AM a car is worth it. But what about the majority reasons to the contrary ? After collecting tax on cars and tax on fuel the vehicle poses a huge threat in terms of safety on road and money wasted.
Its better to go for a two or three year old,second hand car
Cars in still high price wise
What about south
We have the highest prices overall
Taxes are more in south
I guess... the ground reality is something else,,, with waiting period of weeks & months... so Where's the piled up Inventory !!!
Buying any brand car that is manufactured in mexico is absolute trash...just like the recent cases of toyota failures..they shifted a large part of production to mexico and the customers are running to the service stations every now and then with huge malfunctions..
Hybrid cars will cause more deaths in India as they are almost noiseless vehicles and people walking on roads and roadsides may or may not hear the sound of engines at all. Mostly all European countries are not allowing horns in vehicles but after Hybrid vehicles arrival few countries have allowed to sound horns.
people simply comment that i wont own car ..etc .. but they will buy it ...
Vw is big daddy for every brand that's related to Germany
the lesser, people buy the goods the more prices will go down.
You are telling a huge number of unsold cars but dealers are keeping on wanting for a new car
Those taxes are insane. Better stick to what you already have!
In India, Car manufacturers are having Double standards in their production units. Cars which are exported are having stringent Good quality Star Ratings,, but for Indian market the cars are not upto that quality Ratings. We must BAN this kind of attitude, and Car manufacturers must provide Good quality Rating products to our country. This is also main reason for the stagnation of Low quality Cars with Dealers.